Performance quoted represents past performance and is not a guarantee of future results. Current performance may be higher or lower than the performance quoted. Investment principal and return will vary so that an investor's shares when redeemed may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%, on a Class B share the maximum contingent deferred sales charge is 4%, and on a Class C share the maximum contingent deferred sales charge is 1%. As of the most recent prospectus, the expense ratios for the Davis Opportunity Fund were as follows: Class A, 1.10%; Class B, 2.04%; Class C, 1.89%; Class Y, 0.74%.

Investments in initial public offerings ("IPOs") had a favorable impact on Davis Opportunity Fund's performance in 1999 and 2000. This was a time when the IPO market was very active. No assurance can be given that Davis Opportunity Fund will continue to invest in IPOs to the same extent in the future or that such investments would be profitable.

All total return figures include reinvestment of dividends and capital gains distributions. Class B shares automatically convert to Class A shares after seven years. However, since the inception date for Class A shares is 12/1/94, Class B shares could not be converted prior to that date. Therefore, the performance for the life period includes Class B share performance until 12/1/94, and Class A share performance thereafter. Class B shares' performance for the periods exceeding seven years includes the first seven years of Class B share performance and Class A share performance thereafter. Total returns for periods of less than one full year for classes of shares are cumulative total returns, which are not annualized.

Consider carefully a fund's investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here. Read the prospectus carefully before investing or sending money.

Performance quoted represents past performance and is not a guarantee of future results. Current performance may be higher or lower than the performance quoted. Investment principal and return will vary so that an investor's shares when redeemed may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%, on a Class B share the maximum contingent deferred sales charge is 4%, and on a Class C share the maximum contingent deferred sales charge is 1%. As of the most recent prospectus, the expense ratios for the Davis Real Estate Fund were as follows: Class A, 1.26%; Class B, 2.37%; Class C, 2.09%; Class Y, 0.83%.

All total return figures include reinvestment of dividends and capital gains distributions. Class B shares automatically convert to Class A shares after seven years. Class B shares' performance for the periods exceeding seven years includes the first seven years of Class B share performance and Class A share performance thereafter. Total returns for periods of less than one full year for classes of shares are cumulative total returns, which are not annualized.

Consider carefully a fund's investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here. Read the prospectus carefully before investing or sending money.

From inception (May 1, 1992) until July 1, 2003, Davis Appreciation & Income Fund was named Davis Convertible Securities Fund and invested primarily in convertible securities. Performance quoted represents past performance and is not a guarantee of future results. Current performance may be higher or lower than the performance quoted. Investment principal and return will vary so that an investor's shares when redeemed may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%, on a Class B share the maximum contingent deferred sales charge is 4%, and on a Class C share the maximum contingent deferred sales charge is 1%. As of the most recent prospectus, the expense ratios for the Davis Appreciation and Income Fund were as follows: Class A, 0.98%; Class B, 1.91%; Class C, 1.81%; Class Y, 0.72%.

All total return figures include reinvestment of dividends and capital gains distributions. Class B shares automatically convert to Class A shares after seven years. Class B shares' performance for the periods exceeding seven years includes the first seven years of Class B share performance and Class A share performance thereafter. Total returns for periods of less than one full year for classes of shares are cumulative total returns, which are not annualized.

Consider carefully a fund's investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here. Read the prospectus carefully before investing or sending money.

During the period from inception through December 29, 2006 only the directors, officers and employees of the Fund or its investment adviser and sub-adviser (and the investment adviser itself and affiliated companies) were eligible to purchase Fund shares. During this time period the Fund's investment strategies and operations were substantially the same as they are expected to be in the future.

Performance quoted represents past performance and is not a guarantee of future results. Current performance may be higher or lower than the performance quoted. Investment principal and return will vary so that an investor's shares when redeemed may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%, on a Class B share the maximum contingent deferred sales charge is 4%, and on a Class C share the maximum contingent deferred sales charge is 1%. As of the most recent prospectus, the expense ratios for the Davis Global Fund were as follows: Class A, 1.19%; Class B, 2.45%; Class C, 2.21%; Class Y, 0.92%. The Adviser is contractually committed to waive fees and/or reimburse the Fund's expenses to the extent necessary to cap total annual fund operating expenses (Class A shares, 1.30%; Class B shares, 2.30%; Class C shares, 2.30%; Class Y shares, 1.05%) until March 1, 2011. After that date, there is no assurance that expenses will be capped.

All total return figures include reinvestment of dividends and capital gains distributions. Class B shares automatically convert to Class A shares after seven years. Class B shares' performance for the periods exceeding seven years includes the first seven years of Class B share performance and Class A share performance thereafter. Total returns for periods of less than one full year for classes of shares are cumulative total returns, which are not annualized.

Consider carefully a fund's investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here. Read the prospectus carefully before investing or sending money.

During the period from inception (December 29, 2006) through December 30, 2009, only the directors, officers and employees of the Fund or its investment adviser and sub-adviser (and the investment adviser itself and affiliated companies) were eligible to purchase Fund shares. During this time period the Fund's investment strategies and operations were substantially the same as they are expected to be in the future.

Performance quoted represents past performance and is not a guarantee of future results. Current performance may be higher or lower than the performance quoted. Investment principal and return will vary so that an investor's shares when redeemed may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%, on a Class B share the maximum contingent deferred sales charge is 4%, and on a Class C share the maximum contingent deferred sales charge is 1%. As of the most recent prospectus, the expense ratios for the Davis International Fund were as follows: Class A, 1.51%; Class B, 10.11%; Class C, 10.30%; Class Y, 1.26%. The Adviser is contractually committed to waive fees and/or reimburse the Fund's expenses to the extent necessary to cap total annual fund operating expenses (Class A shares, 1.30%; Class B shares, 2.30%; Class C shares, 2.30%; Class Y shares, 1.05%) until March 1, 2011; after that date, there is no assurance that expenses will be capped.

All total return figures include reinvestment of dividends and capital gains distributions. Class B shares automatically convert to Class A shares after seven years. Class B shares' performance for the periods exceeding seven years includes the first seven years of Class B share performance and Class A share performance thereafter. Total returns for periods of less than one full year for classes of shares are cumulative total returns, which are not annualized.

Consider carefully a fund's investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here. Read the prospectus carefully before investing or sending money.

Performance quoted represents past performance and is not a guarantee of future results. Current performance may be higher or lower than the performance quoted. Investment principal and return will vary so that an investor's shares when redeemed may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%, on a Class B share the maximum contingent deferred sales charge is 4%, and on a Class C share the maximum contingent deferred sales charge is 1%. As of the most recent prospectus, the expense ratios for the Davis Government Bond Fund were as follows: Class A, 0.72%; Class B, 1.65%; Class C, 1.58%; Class Y, 0.64%.

All total return figures include reinvestment of dividends and capital gains distributions. Class B shares automatically convert to Class A shares after seven years. However, since the inception date for Class A shares is 12/1/94, Class B shares could not be converted prior to that date. Therefore, the performance for the life period includes Class B share performance until 12/1/94, and Class A share performance thereafter. Class B shares' performance for the periods exceeding seven years includes the first seven years of Class B share performance and Class A share performance thereafter. Total returns for periods of less than one full year for classes of shares are cumulative total returns, which are not annualized.

Consider carefully a fund's investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here. Read the prospectus carefully before investing or sending money.